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I hold a PhD in Economics from the City University of Hong Kong. My primary research interests include International Economics, Fintech, and Empirical Macroeconomics. My research publications have appeared in the Journal of International Trade and Economic Development and the International Trade Journal.
Fintech Credit and Economic Growth: Insights from Direct Quantitative Measures (with Prof. Wang Yong)
We examine the effects of fintech credit on economic growth across 145 countries, using direct measures of digital lending and digital capital raising from the Cambridge Centre for Alternative Finance. Employing a two-step system GMM estimation, we find that fintech credit significantly promotes economic growth globally, though its channels vary by context. In high-income countries, both digital lending and digital capital raising exert significant positive effects. In low- and middle-income countries, digital lending emerges as the primary growth driver. Financial development amplifies these effects across specifications, while sectoral analysis reveals that fintech credit raises manufacturing SME value-added growth by between 0.011 and 0.015 percent, roughly one to four times the impact on total manufacturing value-added growth. These findings underscore fintech credit's capacity to relax binding credit constraints and complement traditional finance in fostering sustained economic development.